QuickBooks Enterprise Review: Pricing & Features 2023
This article is part of a larger series on Accounting Software.
QuickBooks Desktop Enterprise, also called QuickBooks Enterprise, is a desktop-based accounting software that offers advanced tools for managing complicated pricing and inventory tracking. It has all the features of QuickBooks Pro and Premier plus advanced features, such as multilocation inventory tracking and fixed asset management. Also, just like Premier, QuickBooks Enterprise comes in five industry-specific editions: retail, nonprofit, contractors, manufacturing and wholesaling, and professional services.
QuickBooks Desktop Enterprise’s base plan, Silver, costs $1,410 per year for one user. If you need online access to your files, you need to purchase a hosted version, which is available as a monthly subscription, with prices starting at $206 for one user (license fee included).
Pros
- Most powerful among all QuickBooks Desktop products
- Advanced inventory management tools, like bin and location tracking and barcode scanning
- Includes fixed asset management features
- New feature for consolidating financial statements from multiple companies
- Allows you to create custom pricing rules
Cons
- Desktop program requires installation and setup
- Requires a more expensive plan for QuickBooks cloud hosting
- Too expensive and complex for small businesses
- Limited mobile accounting app (only for receipt capture and mileage tracking)
- Medium-sized and large businesses: QuickBooks Enterprise supports up to 40 users and can track up to 1 million items, employees, customers, and vendors.
- Companies needing advanced inventory management: You can track inventory by location and bin. QuickBooks Enterprise also lets you generate customized barcodes to track an item.
- Businesses with a large volume of invoices: Its batch invoicing feature lets you send out multiple invoices at once with one click.
- Managing fixed assets: It has a built-in Fixed Asset Manager that serves as your hub in managing fixed asset information, depreciation methods, groupings, and basis.
- Businesses with multiple entities: One license allows the accounting for unlimited entities, and QuickBooks Enterprise 23.0 allows you to consolidate financial statements from multiple companies.
- Small businesses looking for a more affordable desktop solution: QuickBooks Enterprise is expensive for small businesses. If you have few users and need a more affordable desktop-based solution, we recommend QuickBooks Desktop Pro, which is less than one-third of the price of Enterprise. See how Enterprise compares with other Desktop versions in our QuickBooks Desktop products comparison.
- Businesses preferring affordable cloud-based software: QuickBooks Enterprise with cloud hosting starts at $199 per month for one user, whereas QuickBooks Online Advanced is only $200 per month for 25 users. For additional information, read our comparison of QuickBooks Online vs Desktop.
- Businesses needing a full-featured mobile accounting app: QuickBooks Enterprise’s mobile app only allows you to capture expense receipts. If you want a full-featured mobile app that lets you perform accounting tasks on the go, such as sending invoices and recording bills, then Zoho Books is a great alternative. Learn what its mobile app can do in our detailed Zoho Books review.
- Business users with Macs: QuickBooks Enterprise works only with Windows servers and operating systems. If you’re a Mac user, consider QuickBooks for Mac, though it doesn’t have the same features as Enterprise. We discuss the program in greater detail in our QuickBooks for Mac review.
Are you looking for something different? If QuickBooks Enterprise is too much for your business and you need a scaled-down alternative, check out our guide to the best small business accounting software.
QuickBooks Enterprise Deciding Factors
Supported Business Types | Medium and large businesses with up to 40 users, especially those that have outgrown basic and entry-level accounting software |
Pricing for One User |
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Money-back Guarantee | 60 days |
Standout Features |
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Ease of File Sharing | Requires you to make an Accountant’s copy to share with your accountant (acceptable but not as convenient as file sharing in QuickBooks Online, where you only need to send an invitation email to your accountant) |
Overall Ease of Use | Should be easy to use if you’re familiar with Pro or Premier, but not as intuitive as a cloud-based program |
Customer Support | Unlimited customer support through QuickBooks Priority Circle, community forums, live chat, chatbot, and self-help guides |
QuickBooks Enterprise Alternatives
Best for: Businesses with a few users and that need a more affordable desktop-based solution | Best for: Businesses looking for an easy-to-use cloud-based software | Best for: Businesses that want a full-featured mobile accounting application |
Cost: Starts at $549.99 per year | Cost: Starts at $30 per month | Cost: Free for businesses that make less than $50,000 or less in annual revenue; or starts at $12 per month |
QuickBooks Enterprise New Features for 2023
- Intercompany transactions: QuickBooks Enterprise 23.0 now allows you to consolidate financial reports that merge data from multiple companies.
- Inventory categorization: This allows you to classify inventory items by group or category so that you can find what you need easily.
- Expiration dates: Enterprise 23.0 now lets you add a separate field for expiration dates, giving you the option to create reports around expiration dates.
- Automatic mileage tracking: This enables you to record your business trips automatically using the mobile app instead of calculating your odometer readings manually.
- Cash flow hub: This provides a single place to track all your incoming and outgoing cash flow.
- Improved bank feeds: QuickBooks Desktop 2023 now uses a modernized platform instead of the traditional banking connectivity method via bank servers. This helps you connect bank and credit card accounts easily and download and categorize your transactions.
- Enhance report optimization: Enterprise users with large company files often experience difficulty in compiling complex reports, such as A/R aging reports. Now, QuickBooks has improved the report compilation process for companies with file sizes of over 300 MB. This means complex reports now load quicker than they did in the previous versions.
- Payment links: You can now accept payments without needing an invoice by sending a payment link. When set up, QuickBooks will send an email to your customer containing the payment requests and the link where they can securely process their payments.
QuickBooks Enterprise is available in four plans with prices that start at $1,410 per year for one user. If you don’t need payroll, you can start with Silver, the entry-level plan, which includes features like advanced reporting and QuickBooks Priority Circle. The higher versions, Gold Platinum and Diamond, offer enhanced features, such as payroll, advanced inventory, advanced pricing, and bill workflow approvals.
Number of Users | Silver (Annual Pricing) | Gold (Annual Pricing) | Platinum (Annual Pricing) | Diamond* (Monthly Pricing) |
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1 | $1,410 | $1,830 | $2,250 | $370 |
2 | $2,246 | $2,668 | $3,088 | $443 |
3 | $2,808 | $3,231 | $3,651 | $491 |
4 | $3,371 | $3,792 | $4,212 | $542 |
5 | $4,118 | $4,560 | $5,000 | $619 |
6 | $4, 560 | $5,000 | $5,443 | $656 |
7 | $5,000 | $5,443 | $5,884 | $695 |
8 | $5,443 | $5,884 | $6,325 | $734 |
9 | $5,884 | $6,325 | $6,766 | $772 |
10 | $6,325 | $6,766 | $7,207 | $811 |
11–20 | $9,266 | $9,706 | $10,149 | $873 |
21–30 | N/A | N/A | N/A | $1,067 |
31–40 | N/A | N/A | N/A | $1,361 |
*Annual billing options are unavailable in the Diamond plan.
Tiered Features Comparison
All four plans of QuickBooks Enterprise include core accounting features, such as accounts payable (A/P) and accounts receivable (A/R) management, banking, inventory management, project accounting, advanced reporting, and access to QuickBooks Priority Circle. However, there are significant differences, outlined in the table below.
Features | Silver | Gold | Platinum | Diamond |
---|---|---|---|---|
Enhanced Payroll | ✕ | ✓ | ✓ | ✕ |
Assisted Payroll | ✕ | ✕ | ✕ | ✓ |
Advanced Inventory | ✕ | ✕ | ✓ | ✓ |
Advanced Pricing | ✕ | ✕ | ✓ | ✓ |
Bill & PO Workflow Approval | ✕ | ✕ | ✓ | ✓ |
QuickBooks Time Elite | ✕ | ✕ | ✕ | ✓ |
Salesforce CRM Connector | ✕ | ✕ | ✕ | ✓ |
Enterprise Cloud Hosting
QuickBooks Enterprise is a locally installed software that can be run in the cloud through cloud hosting. Hosted Enterprise has the same features as the on-premise version, but it allows you to access your accounting files from anywhere and any device with internet access.
You can choose from three plans:
- Gold: From $206 per month for one user
- Platinum: From $241 per month for one user
- Diamond: From $424 per month for one user
QuickBooks Enterprise vs Competitors
We compared QuickBooks Enterprise with QuickBooks Online and Zoho Books in our comparative case study and summed up the results in the chart below.
Case Study for QuickBooks Desktop Enterprise vs QuickBooks Online Advanced and Zoho Books
Touch the graph above to interact Click on the graphs above to interact
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QuickBooks Desktop Enterprise Starting at $1,410 per year for one user
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QuickBooks Online Starting at $30 per month, $200 as tested
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Zoho Books Free for businesses making $50,000 or less in annual revenue, or starts as $12 per month
As you see from the chart above, QuickBooks Enterprise is as powerful as QuickBooks Online in terms of banking, A/P, and A/R. It goes head to head against QuickBooks Online and Zoho Books in terms of inventory, but Enterprise has a decisive advantage due to its advanced inventory accounting features.
However, Enterprise is weak in two areas.
- Pricing: QuickBooks Enterprise brings a lot to the table in terms of features, but it comes at a steep price. The base plan, Silver, costs over $1,400, and it’s only for a single user. If you think Enterprise has more features than what you need, QuickBooks Online and Zoho Books are more affordable alternatives to explore. QuickBooks Online has prices ranging from $30 to $200 per month, while Zoho Books has a free plan for businesses that make $50,000 or less in annual revenue.
- Mobile app: While Enterprise has a mobile app, you can only use it to track vehicle mileage and scan or upload receipts and bills. If you need to invoice customers and collect payments from your smartphone, try QuickBooks Online or Zoho Books’ full-featured mobile accounting app. Zoho Books has all the features of QuickBooks Online’s app, in addition to the ability to record bills and bill payments and track time spent on work.
QuickBooks Enterprise Features
QuickBooks Desktop Enterprise offers all the general features that good accounting software should have, such as the ability to set up a company profile, record entity type, and modify and import a chart of accounts from your previous accounting software. However, just like the other QuickBooks Desktop products, Enterprise took a hit in its score as you have to purchase a separate license fee for each additional user, which can be expensive for small businesses.
Its cloud-based counterpart, QuickBooks Online, does it better since you can choose a plan based on your number of users without paying an additional fee.
QuickBooks Enterprise would have garnered a perfect score if its A/P module had been easier to use. Nevertheless, it has robust A/P management features, including the ability to enter and pay bills and track outstanding bills until they’re paid. You can also record purchase orders (POs) and convert them to bills when you receive the items you ordered.
To simplify the payment process, you can set up online bill pay and make partial bill payments. Enterprise also allows you to create an audit trail for bills and POs to help you simplify the A/P management process.
When you upgrade to Enterprise Platinum or Diamond, you’ll be able to set up custom approval workflows for your bills and POs. This feature helps you gain complete control over the purchases made within your businesses. For instance, you can designate a team member as an approver of A/P transactions and track the status of each transaction that requires approval.
What’s more, you can set up a new approval workflow by clicking on Setup Approval Process under the Company menu. You must sign up as an admin to be able to set up a workflow. When you get to the Approval process for bills screen, enter the required details, including the workflow name, the conditions that will trigger the approval and the specific actions that you want to happen when your conditions are met.
For instance, you can set up a condition, such as any bill that’s greater than $1,000 from a vendor who you classify as a service provider, and when that condition is met, the transaction must be approved by a designated approver. You may also specify what happens if the approver doesn’t approve the transaction within a certain period, such as sending a reminder email to the approver.
Setting up a new workflow approval process for bills
Invoicing with QuickBooks Enterprise is similar to other QuickBooks products—you can create and customize invoices and send them out as PDFs or emails. However, Enterprise takes it one step further by allowing you to create and send invoices in batches—as opposed to entering information for each individual invoice manually.
Batch invoicing allows you to create invoices in bulk from a single-entry input, saving you time and effort. If you have multiple clients who are billed on a monthly basis for similar ongoing services, then you can create all of their invoices at once.
Batch invoicing feature in QuickBooks Desktop Enterprise
To reconcile your bank statements, you can choose to connect your bank account (bank feeds) or upload your files of statements manually, which gives you more flexibility. To make reconciliation faster, QuickBooks has a streamlined Undeposited Funds account that holds separate invoice payments and sales receipts you want to consolidate to match the single deposit in your bank statement. Some accounting programs also have an Undeposited Funds account, but they aren’t as comprehensive as that in QuickBooks Desktop.
QuickBooks Enterprise is ideal for project-based businesses like construction companies. You can create an estimate, and when that estimate is approved, you can convert it to an invoice instantly. You can also split estimates into as many invoices as needed (progress invoicing) instead of asking for a full upfront payment.
As you complete the service needed, you can simply add items from the original estimate to progress invoices. When creating a progress invoice out of an estimate, you need to specify how much you want to charge on the invoice for the selected items.
Progress invoicing in QuickBooks Desktop Enterprise
If changes are needed to the scheduled construction work, you can create change orders by editing the original estimate. QuickBooks will create a change order automatically based on the information you entered.
QuickBooks Enterprise isn’t the best tax management solution as it doesn’t help you file sales tax returns. However, if you only need help with tracking your taxes, then the platform can still provide a good value. You can determine how much you owe in taxes easily using the Sales Tax Liability Report. Sales taxes can be added to your invoice, and the program will apply the appropriate sales tax rate automatically based on the type of product or service, customer, and location you indicate in your sales form.
QuickBooks Enterprise is the strongest inventory management software we’ve reviewed. It has an Advanced Inventory module that provides enhanced features not found in the lower QuickBooks Desktop versions, including the ability to track inventory across locations.
Multi-inventory tracking in Enterprise lets you set specific reorder points, so you’ll be alerted when to replenish stocks, create assemblies using parts from different locations or warehouses, and transfer items between locations.
Transfer inventory between locations in QuickBooks Desktop Enterprise
You can use mobile barcode scanning to automate data entry, track inventory by bin numbers, and create customized inventory reports, such as inventory stock by item, inventory valuation summary, and assembly shortage by item. With Enterprise, you also have the option to choose between the first-in, first-out (FIFO) method and the average cost method to track inventory cost.
Another notable feature we want to emphasize is the ability to create pricing rules to adjust pricing automatically based on the rules you specify. For instance, you can set up a rule where your top 10 customers will receive a discount of 20% automatically if they purchase 10 items or more.
Fixed Asset Management
QuickBooks’ Fixed Asset Manager enables you to calculate the depreciation of fixed assets according to the standards published by the IRS. A fixed asset is any tangible property your business owns, including buildings, furniture, vehicles, and equipment. With QuickBooks’ Fixed Asset Manager, you can record new fixed asset purchases and accurately track their depreciation. Additionally, it calculates the gain or loss from the sale of a fixed asset.
The platform allows you to run all the important reports you need to track your business performance, whether these are standard reports, such as profit and loss (P&L) statements, balance sheets, and cash flow statements, or customized reports like job costing, sales by customer reports, and purchases by vendor reports. The only reason it didn’t get perfect points is that it can track inventory by location but not income and expenses, which is something you can do in QuickBooks Online.
Sample report on inventory by location in QuickBooks Enterprise
QuickBooks Enterprise is designed only to capture expense receipts and track business mileage. From your smartphone, you can snap a picture of your receipt and upload it to QuickBooks Desktop. The program will then record the information from the receipt automatically and match it with an existing transaction.
The mileage tracking feature lets you track your vehicle mileage automatically instead of manually recording odometer readings. Logged trips in QuickBooks Desktop are then available for approval by managers or supervisors. Once approved, you can bill them to the appropriate customer or process employee reimbursements.
However, there are several things you can’t do with Enterprise’s mobile app. You can’t send invoices, accept payments online, and record time worked, which usually are possible with similar accounting software like QuickBooks Online and Zoho Books.
QuickBooks Desktop Pro or Premier users will find QuickBooks Enterprise familiar. However, if you’re transitioning from QuickBooks Online to Enterprise, expect a high learning curve. The features can be overwhelming and difficult if you don’t have bookkeeping experience.
QuickBooks Enterprise Gold, Platinum, and Diamond users get access to 24/7 unlimited customer support through QuickBooks Priority Circle. This is a free VIP customer support program that includes a dedicated account team, comprehensive product training, and 24/7 technical support. You can also ask for on-demand training as a QuickBooks Enterprise account user.
QuickBooks Desktop Enterprise homepage
Users who left QuickBooks Enterprise reviews like that the platform provides many useful features, such as its advanced reporting module, customized financial reports, order management, and customer and vendor tracking. Those who aren’t pleased complained that adding multiple users makes it too expensive and that advanced tasks like bank reconciliations are too complicated for beginners.
Here are QuickBooks Enterprise’s ratings from popular review websites:
- Software Advice: 4.50 out of 5 based on about 20,000 reviews
- G2: 4.2 out of 5 based on around 800 reviews
Frequently Asked Questions (FAQs)
You should find Enterprise easy to use—if you’re familiar with Pro or Premier. However, if you’re used to a cloud-based program like QuickBooks Online, expect a steep learning curve.
No, they’re two completely different programs. QuickBooks Enterprise is a QuickBooks Desktop product, while QuickBooks Online is a cloud-based accounting software.
While QuickBooks Enterprise is a locally installed software, you can take your files online through cloud hosting (for an additional fee). Hosted QuickBooks Enterprise allows you to access all of its features from a cloud server, giving you online access to your accounting files.
No, it’s not—and it’s expensive for small businesses. If you need a scaled-down and more affordable solution, we recommend you check our evaluation of the best small business accounting software.
QuickBooks Enterprise is great for midsize enterprises dealing with complex inventory management and businesses that need more flexibility in their pricing structure.
Bottom Line
QuickBooks Enterprise doesn’t skimp on features, and most of them are labeled “Advanced” for good reason. If you need reliable tools for managing complex inventory, pricing, and financial reports, QuickBooks Enterprise won’t fail you. However, it may not be the best fit for your business if you have minimal inventory or are on a budget.